Electrical Workers' Insurance Fund FY2020 filing

Not tax-deductible

Warren, MIMutual-benefit / member-servingSince 1951Mutual / membership EIN 38-1393235Revenue $66.1M in FY2020Latest return filed Aug 11, 2026

On file with the IRSewjbt.orgWarren, MITax-exempt since Jun 1954

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The Fund was established by collective-bargaining between ibew local 58 and smc neca to provide health Insurance to member electricians and their families. Over 5,900 participants and 6,700 beneficiaries & dependents benefit.

$265K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Pay: Part VII

Before you give

FY2020 · Form 990Independent: from IRS data, not the org
Download 990
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 6
filings with a surplus
Average deficit $2.0M a year · 3% of revenue · last 6 filings
Concern: a surplus in 2 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
0%
of spending
Concern: 0% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$265K
to officers and key staff · 0.4% of spending
Looks good: pay to officers and key staff is 0% of spending; 15% or less.
Pt VII · Sec A
1 mo
of spending, in cash
Plus $138.6M in investments, Pt X · Ln 11–13
Fine: 1.0 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$3.4M
2% of total assets
Looks good: liabilities are 2% of assets; 50% or less.
Pt X · Ln 26
Independent board members
0
of 6 voting members
Concern: none of 6 voting members are independent.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$66.1M
Spent
$66.2M
To programs
0%
Net assets
$143.4M
By yearFY2020–FY2025
Revenue
$66.1M
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$66.1M
FY2021$72.6M
FY2022$68.2M
FY2023$71.6M
FY2024$81.5M
FY2025$92.8M
Expenses
$66.2M
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$66.2M
FY2021$74.1M
FY2022$80.5M
FY2023$74.9M
FY2024$80.3M
FY2025$88.6M
Net assets
$143.4M
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$143.4M
FY2021$147.9M
FY2022$115.7M
FY2023$115.8M
FY2024$128.8M
FY2025$134.3M

From the FY2020 Form 990 (year ending September 2020) · figures checked against the IRS filing · see the original

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You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jun 1954.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Who runs it and what they're paid

7 people listed on the 990; $265K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2019); the FY2020 filing did not itemize Part VII
Benefits Dir
$265,000Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Trustee/Chai
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Trustee/Secr
$0Pt VII · Sec A

Compensation history total reportable pay by year · 5 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
E Craig Young$399,173$381,950$350,000$273,812$270,565$265,000
Michele Davis$168,349$146,500$138,000$123,750$116,200—
Sarah Padgett—$144,524—$121,500——
Jessica Cyprus$110,800$102,625————
William Darish—$1————

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Electrical Workers' Insurance Fund executive salaries →

Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Provides health insurance to member electricians and their families.

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1 program · $66.2M · in their own filed words · FY2019
01

The fund provides health benefits to over 12,000 participants, dependents and beneficiaries.

$66.2Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

By the numbers

The FY2020 990, line by line.

1The main four
Money inPt VIII
$66.1M
Ln 12
Fees for servicesLn 2g$62.4M
Investment incomeLn 3$2.9M
Other incomeLn 4–11$766K
Money outPt IX
$66.2M
Ln 25
Owns and owesPt X
$143.4M
net assets · Ln 32
Cash and savingsLn 1–2$5.3M
Total assetsLn 16$146.8M
LiabilitiesLn 26$3.4M
PeoplePt VI, VII
7
listed · VII A
PaidVII A1
Voting boardVI 1a6
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$62.4M
Investment incomeLn 3$2.9M
Other incomeLn 4–11$766K
Gains on assetsLn 7$439K
Total revenueLn 12$66.1M
Assets in detailPt X, end of year
CashLn 1$350
SavingsLn 2$5.3M
Cash and savings togetherLn 1–2$5.3M
Accounts receivableLn 4$2.4M
Land, buildings, equipmentLn 10c$4K
InvestmentsLn 11–13$138.6M
Other assetsLn 15$513K
Total assetsLn 16$146.8M
LiabilitiesLn 26$3.4M
Net assetsLn 32$143.4M
OperationsPt I, VI
EmployeesI 514
Fiscal year endsHeaderSeptember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$4.2M$5.3M
InvestmentsLn 11–13$131.9M$138.6M
Land, buildings, equipmentLn 10c$5K$4K
Total assetsLn 16$139.1M$146.8M
LiabilitiesLn 26$687K$3.4M
Net assetsLn 32$138.4M$143.4M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Benefits paid to or for membersLn 4$64.0M
Pay of current officers, directors and key staffLn 5$265K
Other salaries and wagesLn 7$885K
Pension plan contributionsLn 8$150K
Other employee benefitsLn 9$87K
Payroll taxesLn 10$27K
Legal feesLn 11b$38K
Accounting feesLn 11c$123K
Investment management feesLn 11f$317K
Other fees for servicesLn 11g$14K
Advertising and promotionLn 12$63K
Office expensesLn 13$48K
Information technologyLn 14$70K
OccupancyLn 16$29K
Conferences, conventions and meetingsLn 19$5K
Depreciation, depletion and amortizationLn 22$1K
InsuranceLn 23$12K
Total functional expensesLn 25$66.2M$0$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 LatestFiled with the IRS Aug 11, 2026 $92.8M$88.6M$4.2M$134.3M 990 PDF
FY2024Filed with the IRS Aug 11, 2025 $81.5M$80.3M$1.1M$128.8M 990 PDF
FY2023Filed with the IRS Jul 24, 2024 $71.6M$74.9M−$3.4M$115.8M 990 PDF
FY2022Filed with the IRS Jul 17, 2023 $68.2M$80.5M−$12.3M$115.7M 990 PDF
FY2021Filed with the IRS Jun 24, 2022 $72.6M$74.1M−$1.5M$147.9M 990 PDF
FY2020 ViewingFiled with the IRS Jul 20, 2021 $66.1M$66.2M−$112K$143.4M 990 PDF

Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support J · Pay O · Explanations
See the full FY2020 990 (6 parts)
Part I · Summary $66,063,414 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenuePrior year $61,513,865$62,360,368
I-10 Investment incomePrior year $3,007,538$2,937,475
I-11 Other revenuePrior year $782,888$765,571
I-12 Total revenuePrior year $65,304,291$66,063,414
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to membersPrior year $53,938,054$64,041,316
I-15 Salaries and benefitsPrior year $1,371,890$1,413,394
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $613,030$720,259
I-18 Total expensesPrior year $55,922,974$66,174,969
I-19 Revenue less expensesPrior year $9,381,317−$111,555
Part VI · Governance 0 of 6 board members independent, 1 to look at
VI-1a Voting members of the governing body6
VI-1b Independent voting members0
VI-2 Family or business relationship among officers or directorsYes
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $66,063,414 across 5 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $62,360,368$62,360,368
VIII-3 Investment incomeExcluded from tax $2,498,752$2,498,752
VIII-7 Net gain or loss on sales of assetsRelated to mission $438,723$438,723
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $765,571$765,571
VIII-12 Total revenueRelated to mission $62,799,091 · Excluded from tax $3,264,323$66,063,414
Part IX · Statement of functional expenses $66,174,969 across 17 lines filed
IX-4 Benefits paid to or for members$64,041,316
IX-5 Pay of current officers, directors and key staff$265,000
IX-7 Other salaries and wages$885,055
IX-8 Pension plan contributions$149,902
IX-9 Other employee benefits$86,810
IX-10 Payroll taxes$26,627
IX-11b Legal fees$38,482
IX-11c Accounting fees$123,467
IX-11f Investment management fees$316,571
IX-11g Other fees for services$13,800
IX-12 Advertising and promotion$62,902
IX-13 Office expenses$47,818
IX-14 Information technology$70,119
IX-16 Occupancy$28,807
IX-19 Conferences, conventions and meetings$5,074
IX-22 Depreciation, depletion and amortization$1,260
IX-23 Insurance$11,959
IX-25 Total functional expensesPrograms $0 · Management $0 · Fundraising $0$66,174,969
Part X · Balance sheet $146,791,234 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $348$350
X-2 Savings and temporary cash investmentsStart of year $4,164,114$5,279,633
X-4 Accounts receivableStart of year $2,598,000$2,355,000
X-10c Land, buildings and equipment, netStart of year $4,834$3,982
X-11 Publicly traded securitiesStart of year $97,425,686$106,674,304
X-12 Other securitiesStart of year $34,430,467$31,964,980
X-15 Other assetsStart of year $486,204$512,985
X-16 Total assetsStart of year $139,109,653$146,791,234
X-17 Accounts payable and accrued expensesStart of year $417,741$2,174,680
X-25 Other liabilitiesStart of year $269,126$1,192,009
X-26 Total liabilitiesStart of year $686,867$3,366,689
X-31 Retained earnings or endowmentStart of year $138,422,786$143,424,545
X-32 Total net assets or fund balancesStart of year $138,422,786$143,424,545
X-33 Total liabilities and net assetsStart of year $139,109,653$146,791,234
Part XI · Reconciliation of net assets $143,424,545 net assets at year end
XI-1 Total revenue$66,063,414
XI-2 Total expenses$66,174,969
XI-3 Revenue less expenses−$111,555
XI-4 Net assets at start of year$138,422,786
XI-5 Net unrealized gains (losses) on investments$5,113,314
XI-10 Net assets at end of year$143,424,545

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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